The steering response is never changed in the way that it is with the regular 5-series cars that are equipt with active steering. EDC only controls the stiffness of the shocks, which will translate into steering response, but is not the same as the active steering, which will actually change the steering ratios.
Here is what BMW has to say about EDC on the bmwusa.com website:
"Electronic Damping Control (EDC) automatically adjusts the shock absorber settings to meet changes in vehicle speed, load, or road and driving conditions. The driver selects either "Sport" or "Comfort" from the iDrive "Settings" menu. EDC then modifies the shock absorbers to any degree, from the softest to the firmest setting. The result is exceptional riding comfort and fluid, responsive handling at all times. For example, the "Sport" setting increases firmness under all conditions for a sportier driving feel. With the "Comfort" setting, when sensors detect smooth roads, the shock absorbers are kept "soft" for optimum riding comfort. When the vehicle is rounding a sharp corner or curve, the shock absorbers are automatically and instantly adjusted to a firmer level. And when the vehicle encounters irregular road surfaces, such as bumps or a "washboard" surface, the shocks are instantly adjusted to the optimum level of firmness. This controls ride motions, helping to keep ride comfort at an acceptable level while maintaining road contact."